Looks like EMC2 has found bottom on the 200 day moving average - testing bottom and looking for a reversal. Not fully confirmed yet (as per bearish indicators with MACD, RSI, ADX and SAR) but combining fundamentals with technicals could show us a break of this current wedge within the last weeks of February and beginning of May.
Fundamentals:
- Strong announcements coming (Weee platforms and payments)
- New partnerships with ongoing development (Voxtel / Maxeler)
- Algorithm change
- Birthday on 1st of March - possible new breakthrough on an announcement?
Medium term targets on the moving average or fib levels between 4600 and 5600 satoshis. Long term targets if a breakthrough happens up to new all time levels with the beginning of a new wave.
Looking for an entry as the 200 day MA support holds.
Fundamentals:
- Strong announcements coming (Weee platforms and payments)
- New partnerships with ongoing development (Voxtel / Maxeler)
- Algorithm change
- Birthday on 1st of March - possible new breakthrough on an announcement?
Medium term targets on the moving average or fib levels between 4600 and 5600 satoshis. Long term targets if a breakthrough happens up to new all time levels with the beginning of a new wave.
Looking for an entry as the 200 day MA support holds.
Comment:
Aand remember that this is my own idea of what I am looking, not investment advice - always do your own research!
Comment:
EMC2 has fallen out of the 200 MA level on the daily chart and looks to be falling out of support for now. Orderbook also looks pretty thin.
Holding with a stop loss at around ~2800 satoshis - we could still easily see a bounce depending on BTC price movement.
Holding with a stop loss at around ~2800 satoshis - we could still easily see a bounce depending on BTC price movement.
Comment:
EMC2 took longer to develop but has finally broken out the descending wedge. Currently up around 70% from few days ago - facing some resistance here but we could still see a run-up to the 100 MA which would be another 70% up.